by compiler » Sun Jan 19, 2014 11:47 pm
An house recently had water damage due to the bust pipe. The treadmill, DVD, computer and TV were soaked. I do not want to keep them because the soaked electronics equipment quality has no guarantee. Can I demand for the loss as the disposal instead of repair with my home insurance or I must have them repaired? Thank you for your answer.
Posted: Mon Jan 20, 2014 01:17 pm Post Subject:
You can do anything you want with then. The real question is, what is owed under the policy. If those items can be repaired, then this is what is owed.
However, the items you mentioned are almost never repaired these days as it costs much less to replace them rather then repair due to labor costs.
Posted: Mon Jan 20, 2014 02:12 pm Post Subject: What do you mean by "...what is owed under the policy?&
What do you mean by "...what is owed under the policy?" Do you mean the personal property coverage limit, the actual cash value or repair cost?
Posted: Mon Jan 20, 2014 02:15 pm Post Subject:
Does the insurance company owe you for automatic replacement of the items or do they owe for repairs or replacement, which ever is less? The answer is repairs or replacement, which ever is less is what they owe. So that is what will be paid. You can demand whatever you want... what is written in the policy is what they will pay.
Posted: Mon Jan 20, 2014 03:24 pm Post Subject:
So the insured cannot have the damaged item repaired before hear from the adjuster. Is it correct? The adjuster may decides to dispose of the damaged goods, right?
Posted: Tue Jan 21, 2014 01:34 am Post Subject:
So the insured cannot have the damaged item repaired before hear from the adjuster
The insured needs to prove his/her loss. If the items are repaired then there is (maybe) the repair bill and the repair company to indicate what was wrong with the items. Also, if the repair was more then replacement or replacement less depreciation then the lower amount would be paid. Unless the item needs to be repaired asap, it's always best to wait to hear from the adjuster.
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